A product development plan outlines the objectives and projects for developing a product. The plan will typically include the focus areas, objectives, actions, and KPIs (key performance indicators) necessary to achieve the desired outcome of the product development process. It is essential for any product team, as it provides a clear roadmap for the product's successful development.
This product development plan template is ideal for product teams of all sizes and industries who want to create a plan to develop their products. It provides a clear structure for a product team to define the objectives and strategies necessary for product development success.
Your focus areas are the areas of your product that you want to focus on for improvement. Examples of focus areas could include product development, product launch, customer engagement, and overall product strategy. Each focus area should have its own objectives and strategies that are tailored to achieving its goals.
Objectives are the goals that you want to achieve through your product development plan. Each focus area should have its own objectives that are tailored to that focus area. Examples of some objectives for the focus area of Product Development could be: Increase Product Quality , and Increase Product Design Efficiency .
KPIs are measurable targets that you set to track your progress towards your objectives. Each objective should have a KPI that is tailored to that objective. An example of a KPI for the focus area of Product Development could be: Decrease defect rate from 0.5% to 0.2%.
Projects (actions) are the activities that you will complete to achieve the KPIs. Each KPI should have a related project that is tailored to achieving that KPI. For example, if the KPI is to decrease defect rate from a specific initial value to a target value, the related project could be to increase quality assurance testing.
Cascade Strategy Execution Platform helps you to easily create, manage and monitor your product development plan. Cascade enables you to quickly and easily create and manage your product development plan, set objectives, set KPIs, implement projects, and track your progress against your objectives.
Getting started with your Product Development Plan Template only takes 20 seconds.Use this template